{ "media_type": "text", "post_content": "Engagement Manager with a Current cash comp is 250k-270k. Seeking to exit into something that has better WLB i.e. 55 hours or less per week. What kind of haircut should I expect on comp, if at all...", "post_id": "605a016f361e150022abde43", "reply_count": 25, "vote_count": 5, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

Engagement Manager with a Current cash comp is 250k-270k. Seeking to exit into something that has better WLB i.e. 55 hours or less per week. What kind of haircut should I expect on comp, if at all...

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At my industry firm (F500 healthcare), with 3 YOE you're looking at a senior analyst or manager level position at most, with a corresponding salary of $150k at the absolute top end.

likefunny

Which company...?

I don’t know anyone making remotely close to that number with only 3 YOE, in my industry.

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I think the point was OP should expect a haircut

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You should be able to clear $300+ but it will not be all cash comp. Just one data point, but at my prior company several McKinsey EM’s joined as Dir /Sr Dir depending on the role. Total comp was $300-400, but ~40% was long term incentives. May not be the work life balance you’re hoping for though

likehelpful

Sounds like Pharma honestly

Im reading this as 3 years post MBA at McK, with perhaps a half decade of work experience between college and mba. Feel free to correct OP but this allows me to adjust for big tech. Assuming you have some tech affinity, “big tech” (FAANG, Microsoft, Salesforce, etc) I’d expect a ballpark comp of 170 base, 30k cash bonus, and like 50-120k RSUs annually. Huge caveat that this will be role specific and ranges vary within companies I listed. From a cash comp perspective, you will be closer to 220 cash year 1, 260 year 2, and 300ish years 3-4 with RSU vesting

likehelpful

What do you wanna do aside from work less. That informs what comp range you’re looking at... for example the diff between a manager at a Gap retail store vs PM at FAANG.

likesmart

I was in a very similar position and joined a major cpg - actually gained 20-30% in comp and WLB is way better

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Global strategy/rev management

It varies by sector. If you exit to pharma or tech companies as an EM you should aim for a 20-40% pay bump in TC. Sectors like retail might pay less but in rare case should you take a pay cut In general, it is a misperception that McKinsey pay higher than industry and therefore you need a pay cut when exiting. The way to think about it is by exiting you are giving up a low-risk fast trajectory, so you need a one-time bump to compensate for that. Assume you had solid work experience prior to McKinsey, there should be plenty of opportunities that can pay higher than EM salary

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What level / role are you?

Engagement Manager

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YOE?

Yeah, this is a useless response. MBA in 2018 or Undergrad? Any prior experience? Etc.

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Agree with what MSFT posted above. I work in tech and make offers to MBB refugees regularly. Only caveat is that MBB pays “SF level” nationwide while most tech companies have tiered comp by location. So if you don’t want a drop in comp, move to SF first.

How many hrs are you currently pulling?

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